Mitsubishi UFJ Trust & Banking Corp Lowers Position in American Tower Co. (NYSE:AMT)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,356,034 shares of the real estate investment trust's stock after selling 276,534 shares during the period. American Tower comprises approximately 0.6% of Mitsubishi UFJ Trust & Banking Corp's portfolio, making the stock its 24th biggest holding. Mitsubishi UFJ Trust & Banking Corp owned about 0.29% of American Tower worth $248,710,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Glenview Trust co grew its position in shares of American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock valued at $1,294,000 after acquiring an additional 54 shares during the period. Rehmann Capital Advisory Group lifted its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC grew its holdings in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 58 shares during the period. Resonant Capital Advisors LLC increased its position in American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock worth $206,000 after buying an additional 61 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its stake in shares of American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after buying an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company's stock.

American Tower Trading Up 0.7 %

Shares of NYSE:AMT traded up $1.48 on Friday, reaching $215.52. 1,907,465 shares of the company traded hands, compared to its average volume of 2,385,502. The stock has a market capitalization of $100.74 billion, a P/E ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business's 50-day simple moving average is $198.89 and its 200 day simple moving average is $204.58. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. As a group, equities analysts anticipate that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a dividend of $1.70 per share. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. American Tower's dividend payout ratio is presently 141.37%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMT shares. Morgan Stanley lowered their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Citigroup raised their price objective on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, JMP Securities began coverage on American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target for the company. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $229.43.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.